MARKET UPDATES
The Australian dollar weakened because of the bigger-than-expected unemployment rate…
Japan's wholesale prices inch up at the fastest pace in 9 years
In September, Japanese wholesale prices tacked on at the fastest annual pace for nearly 9 years. It’s because of ascending prices for metals, gasoline as well as agricultural products. However, the revenues won't necessarily drive the Asian country's notoriously poor inflation.
Financial experts actually expect consumer prices to edged up only gradually because a great number Japanese companies are used to absorbing higher input costs rather than lifting prices, thus making it difficult for the BOJ to meet its 2% inflation objective.
In September, wholesale prices leapt 3% from 2016, jumping for the ninth straight month, as BOJ data disclosed on Thursday.
September's revenues demonstrated the fastest wholesale price surge since October 2008, excluding the effect of the country’s sales tax lift in 2014.
In September, Japanese bank lending grew 3% versus last year, as separate data revealed.
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